Eagle Idaho Home Sales- November 2018

Eagle Idaho Home Sales Activity For November 2018

Eagle Idaho Home Sales

Eagle Idaho Homes For Sale

# Available: 223    Click here to view all homes for sale in Eagle, ID
Average Asking Price: $651,052
Median Asking Price: $529,000
Months’ Supply: 2.1

Eagle Idaho Pending Sales

# Pending: 161
Average Asking Price: $561,824
Median Asking Price: $516,422

Closed Eagle Idaho Home Sales – November 2017

# Closed: 75
Average Sales Price: $451,291
Median Sales Price: $406,500

Closed Eagle Idaho Home Sales – November 2018

# Closed: 77
% Change: +2.7%

Average Sales Price: $512,100
% Change: +13.5%

Median Sales Price: $485,000
% Change: +19.3%

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Data extracted from Intermountain MLS on 12/8/18 and pertains to Eagle Idaho single-family residences on lot or acreage.

Data does not include condominiums or townhomes.

Months’ Supply = available listings divided by average monthly closed sales for the past twelve months.

Why I Preview Homes Before Showing Them

Here’s Why I Preview Homes Before Showing Them!

Preview Homes

I work with a lot of buyers, many of whom come from out of area.

Some of them have never been here before.

Most of them have spent ample time viewing “real estate eye candy” on the internet, but they lack the context that’s necessary to understand what they’ve seen.

They often focus on specific homes that look appealing online without realizing they don’t match their criteria for location, quality, commuting, shopping, schools, and other important factors.

My standard practice, when working with buyers, is to have a detailed initial conversation and learn what matters most to them.

That means asking a lot of questions and listening carefully about their needs, wants, likes, and dislikes.

This conversation also allows us to determine if we’d like to work together.

After understanding their situation, I complete a broad MLS search that usually includes only MLS area, price range, bedrooms/baths, and square footage to get a feel for what’s available.

If my buyer has specific criteria, such as single-level, 3-car garage, formal dining room, and other specific features, I include them in my MLS search.

My broker-level MLS search tools allow me to see information that isn’t displayed to the public.

That information often reveals the true character of the home and helps me to narrow the field.

Then, I personally review each listing matching that criteria and eliminate the obvious mismatches.

If my buyer wants to be in a specific area or subdivision, it’s pointless to consider listings in other areas.

After eliminating the misfits, I research each home’s location with my mapping software.

That usually results in eliminating more listings due to being located on busy streets, backing to major roads that will get widened, bordering vacant land that will get developed in the future, and other criteria.

Then, I drive by the remaining homes to assess the neighborhoods and the homes’ exteriors.

That reduces the list of possible solutions further.

Next, I preview the homes that made it through my previous screening process, viewing them through my buyer’s criteria.

After my extensive scrutiny, I show the best homes to my buyers.

With our current low listing inventory, I often end up with only a few homes to show.

The best part of my process is that my buyers see the best of the best instead of “all the rest”.

My process also saves my buyers’ valuable time and avoids the confusion of viewing homes that are of no interest to them.

Most of my colleagues think I’m nuts for going to the trouble of doing drive-bys and previewing.

They think it’s a total waste of time.

Many agents stubbornly cling to the practice of showing homes they’ve never seen while “hoping” their clients will finally say “I’ll take this one”.

Personally, I’ve never found hope to be a good business model.

And, I’ve never understood why any agent would show homes they haven’t even seen!

______________________________________________

Are you looking for a home in the Boise Area?

I do real estate differently!

Think of me as your own Personal Real Estate Consultant!

Give me a call @ (208)938-5533 and let’s talk about how I make the home buying experience easier for my clients!

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The Truth About Price Per Square Foot

What’s “in” the square feet is more important than the price per square foot!

Price Per Square Foot

Try to figure out the price per square foot of this home!

Realtors®and consumers often view price per sq. ft. as the ultimate way to determine a home’s value.

But, there’s much more to determining value than the price per square foot!

Thanks to the internet, there’s a lot of data available these days.

Price per square foot is just one of those internet data elements and it’s often misleading.

Here’s Why . . . .

Incorrect Square Footage

  • Sellers, and their listing agents, sometimes misstate a home’s square footage.
  • That can happen when agents, assessors, and/or appraisers measure a home while using different methods.
  • Some homes are purchased with unfinished square footage that the owner completes later.
  • Some sellers, and their listing agents, will include that extra unfinished square footage to achieve a lower, more attractive price per square foot in their listing.
  • And, some homes “grow” each time they’re sold because successive sellers convince their listing agent that the home included “X’ square feet when they bought it.
  • Listing agents often take the seller’s word for it without checking the public records for accurate info.

Construction Design

  • A single-story home will usually have a higher price per square foot because it has a bigger footprint, more roof area.
  • Single-level homes are often smaller than multi-level homes, resulting in the major construction elements being apportioned over fewer square feet.
  • That pushes single-level homes’ price per sq. ft. higher.
  • A multi-level home will usually have a lower price per square foot because it costs less to build than a single-level home.
  • It’s also common to see larger homes with unfinished living areas have a lower price per sq. ft.
  • In general, smaller homes often have a higher price per sq. ft.

Condition

  • A home in pristine condition will usually have a higher price per square foot than a comparable home in poor condition.
  • Homes that have the latest amenities and upgrades will almost always carry a higher price per square foot than a home that has laminate counters, golden oak cabinetry, and linoleum floors in the living areas.

The bottom line?

I view price per sq. ft. as just one piece of the puzzle.

Price per sq. ft., while somewhat useful, is not a reliable indicator of value by itself.

What’s “in” the square feet is far more important than the price per sq. ft.

FWIW: Appraisers ignore price per square foot when appraising homes.

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ITD Allocates $96 Million For Highway 16 Extension

The Idaho Transportation Department (ITD) has allocated an additional $96 million dollars to acquire needed right-of-way real estate for the Highway 16 Extension (aka Central Valley Expressway) to I-84.

Highway 16 Extension

(North is 90 degrees to the right)

That funding is in addition to $6 million that was released this past summer for initial engineering needed for the project.

When completed, the Central Valley Expressway will connect Emmett to I-84 and relieve Eagle Road congestion by providing residents of Northwest Meridian, Star, and Emmett easier access to I-84.

Residents of those areas will be able to reach I-84 within minutes while avoiding busy Eagle Road.

The new funding is in response to several major real estate developments recently announced for the Chinden Blvd. corridor.

Those new developments include the proposed $100 million Central Valley Plaza development that will be built by Ball Ventures Ahlquist in partnership with Brighton Corporation, to be located on Chinden Blvd. near Highway 16.

The Central Valley Plaza project will initially include 90,000 sq. ft. and be anchored by a new Hospital Corporation of America medical center, a Veranda Senior Living facility, as well as office and retail space.

Other recently announced Chinden Blvd. projects include the new Meridian Costco store, the Linder Village development anchored by Winco, and several other major planned developments.

Preliminary design of the Central Valley Expressway extension includes six lanes with a new I-84 interchange and various interchanges with major local roads.

The total cost of the Central Valley Expressway extension was estimated at $400 million in 2011, but that cost is expected to rise substantially by the time it is built.

Funding for construction of the highway extension has yet to be determined.

Given the rapid growth of the Northwest Meridian area, it seems likely that the Northwest Meridian area near Chinden Blvd. and Highway 16 will become the epicenter of growth for the Boise Metro area in the near future.

Image Credit: IdahoPress.com

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New Nampa Idaho Amazon Distribution Center?

In what may be the worst-kept secret ever, it seems likely Nampa will become the new home of a massive $130 million dollar Nampa Idaho Amazon Distribution Center.

Project Bronco

The massive project, labeled “Project Bronco”, is currently being developed on 111 acres, north of I-84, between Star Road and the Corwyn Ford dealership.

Unsurprisingly, Amazon has neither confirmed nor denied the planned facility, and Nampa city officials appear to be bound by a nondisclosure agreement for the project.

Interesting Information

It’s difficult to keep a project of this size a secret, so there’s quite a bit of information that has become public.

Here’s some interesting information gleaned from various news media articles:

  • Amazon Fulfillment Services, Inc. filed to do business in the State of Idaho in November 2017.
  • Last June, Panattoni Development Company, Inc. applied for a conditional use permit with the City of Nampa to develop the facility.
  • The Nampa Planning and Zoning Commission promptly approved the permit (unanimously) at a public hearing in July.
  • The initial application included a 857,357 sq. ft. building, but the application was updated in September to expand the size of the building.
  • The building permit application included mention of “PREDEV – Amazon BTS”.
  • The facility is planned to include 255 truck/trailer stalls.
  • The new facility could employ up to 3,000 people and is expected to provide more than $1 million in tax revenue.
  • Ware Malcomb architectural firm described the project as a distribution center intended for mostly smaller packages during a Nampa Building and Site Design Committee meeting in July.
  • Panattoni has developed similar Amazon distribution centers around the world.
  • Major construction is underway at the site, and a Panattoni spokesperson said construction is expected to take about 13 months.
  • Amazon currently has several Nampa, Idaho job postings online, including a position described as “Amazon Warehouse Fulfillment Associate”.
  • Upon completion, Project Bronco will be the largest business in Nampa.

After personally seeing the magnitude of the development, I can’t help but wonder about the traffic impact on the surrounding roads.

Credits:

Disclaimer: None of the above information about the development has been confirmed and was obtained from various news articles.